Analyst Update: Intel Corporation, Visa, JetBlue
Analysts adjusted their ratings on INTC, V, and JBLU
Analysts adjusted their ratings on INTC, V, and JBLU
Analysts are weighing in today on blue chips Intel Corporation (NASDAQ:INTC) and Visa Inc (NYSE:V), as well as transportation issue JetBlue Airways Corporation (NASDAQ:JBLU). Here's a quick look at today's brokerage notes on INTC, V, and JBLU.
- INTC hit a fresh 12-year high of $36.46 out of the gate, but was last seen 0.8% lower at $35.66. Earlier, the shares received price-target hikes from no fewer than six analysts -- the most ambitious of which came from Imperial Capital, which upped its target to $40 from $37 and reiterated its "outperform" rating -- on the heels of a better-than-expected 2015 revenue outlook and increased dividend. In the options pits, pessimism toward Intel Corporation has been heavy. The stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.80 is just 6 percentage points from an annual high. Plus, INTC's Schaeffer's put/call open interest ratio (SOIR) of 1.23 sits at a 12-month peak. An unwinding of this skepticism in the face of the security's 37% year-to-date rally could spell tailwinds.
- V hit another record high of $256.56, following a price-target hike to $290 from $250 at Susquehanna, which also reaffirmed its "positive" opinion of the shares. At last check, the stock was still 0.7% higher at $253.33, bringing its year-to-date advance to nearly 14%. The aforementioned bullish brokerage note is par for the course on Wall Street. Twenty out of 24 analysts tracking Visa Inc have doled out a "buy" or better rating, versus just four "holds" and not a single "sell." Plus, the consensus 12-month price target -- while just a chip-shot away from current trading levels -- stands in all-time-high territory, at $258.53.
- JBLU reached its own seven-year peak earlier -- topping out at $13.69 before dropping below breakeven -- after Imperial Capital's price-target cut to $16 from $20 (though the firm also underscored its "outperform" rating). At last check, the equity was down 2.5% at $13.11. This follows yesterday's news that JetBlue Airways Corporation will redeem all of its outstanding convertible debentures. On the sentiment front, short interest represents a lofty 20.7% of JBLU's float, which is 5.5 times the stock's average daily trading volume. In other words, if the shares can resume their uptrend, potential short-covering activity could assist them on their quest for higher highs.
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